Health and safety upgrades for senior households in the state. The rehabilitation and resale of condos in Albuquerque.
Those are just two of the four projects being awarded a share of $2.2 million through the New Mexico Housing Trust Fund. The money — which is offered to nonprofits, for-profit organizations, governmental housing agencies and regional housing authorities, among others — was recently approved by the New Mexico Mortgage Finance Authority’s board of directors.
MFA says funding was awarded based on each project’s financial feasibility, readiness, energy-efficient components and “ability to address long-term affordable housing needs.”
“Funding these projects will ultimately help to ensure more New Mexicans will have access to safe, quality, affordable housing,” MFA Executive Director and CEO Isidoro Hernandez said in a statement. “The impact of these projects will benefit New Mexicans for years to come, especially some of the most vulnerable populations who will benefit from this funding.”
The four project awardees:
• North Central New Mexico Economic Development District was awarded $1 million for health and safety upgrades to more than 40 senior households across the state. NCNMEDD is the parent organization of Non-Metro Area Agency on Aging, which oversees services for seniors ages 60 and older in all counties except Bernalillo.
• Yes Housing received $627,000 to support construction costs on a new senior-living development in Hobbs. The development, called West Berry Senior Apartments, broke ground last fall and includes a total of 44 one-bedroom units and 12 two-bedroom units. A quarter of the units are earmarked for households with incomes at or below 50% of the area median income.
• Homewise received $400,000 for the acquisition, rehab and resale of condos located at 119 High Street in Albuquerque. The project will provide multiple units for sale to households with incomes at or below 65% of the area median income. The project will also include energy-efficient upgrades.
• DreamTree in Taos received $200,000 to support construction costs for its Navigating Emergency Support Together facility, which offers overnight shelter for those experiencing homelessness.